Updated: May 12
In Global Financial Training Program’s series of entrepreneurial training sessions CEO Phil Dushey explains why equipment leasing is by far the largest growing segment of financing in the country. And it is the biggest area of business for those who have completed the Global Financial Training Program.
This year, it is estimated that U.S. companies will finance more than $500 billion of equipment. Rather than a company having to pay cash for new equipment draining valuable cash reserves, they can finance the equipment with a “no money down” lease.
This is NOT considered a loan and therefore does not reduce their available credit elsewhere. In fact it can literally increase the credit standing of a company. Today the need for additional construction equipment is skyrocketing due in part to growth but also in part rebuilding after natural disasters. Contractors need financing solutions.
Our graduates will work with the private customers, companies and vendors that sell the equipment. In most cases, the vendors who sell the equipment need our graduates more than they need the vendors. Commercial loan brokers are giving these vendors a finance program to offer to their customers, which translates into more sales. In effect, you’re giving them a program to grow their business. This is tremendously important. These vendors must finance through people like yourself because bank approvals are very difficult . The sales staff of vendors need a solution and can direct several deals a month to you. This is a great opportunity for anyone considering entering the field of commercial finance. Imagine spending just 20% of your time opening a vendor client. Open 5 in one year and you have enough residual ongoing business from these sources to literally provide for a six figure income.
Typical commission: 6-15% of the amount financed Transaction size unlimited: Typical amounts: $10,000-500,000+ * Typical approval time: 24-72 hours